Skeptics are probably not quick to link the words "small business" and "data." But they are wrong, judging by “Using Data To Drive Demand,” a new study from RollWorks, in partnership
with Ascend2.
Small B2B brands are using data, although they face challenges that mirror those of larger corporations:
- Identifying target audiences/accounts — 39%
- Measuring results — 38%
- Allocating resources/budget to execute —
31%
- Aligning marketing and sales processes — 31%
- Making data actionable — 29%
- Finding/implementing appropriate technology — 28%
- Data unification — 17%
- Leadership buy-in — 11%
Of the
SMB owners polled, 75% say they are somewhat successful at using data to drive B2B demand-generation goals, and 17% that they are very much so (best-in-class.
But only 32% agree that
demand generation is significantly improved when a data-driven strategy is used, versus 61% who moderately go along with that, and 7% who disagree.
Data fuels email marketing for SMBs,
but not as much as it does in maintaining the customer experience. Here are the activities that are affected by data-driven marketing:
- Customer experience — 46%
- Personalization of content — 37%
- Email marketing — 33%
- Engagement — 32%
- Segmentation
of target audiences — 29%
- Inbound marketing (ads, social media, etc.) — 24%
- Target accounts — 22%
- Conversion — 17%
- Lead scoring — 11%
- Nurture campaigns — 8%
Tactics aside, small B2B brands are
utilizing these component as part of their demand generation strategies:
- Real-time marketing — 47%
- Customer journey mapping — 31%
- ABM (Account-Based Marketing) — 23%
- Hyper-personalization — 22%
- Intent data — 20%
- AI/predictive data analysis — 15%
- Omnichannel — 12%
What are the
most important benefits of a data-driven strategy?
- Improved quality of leads — 55%
- Improving customer experience — 48%
- Increased quality of leads — 39%
- Increased pipeline for sales — 26%
- Increased close-rates for sales — 25%
- Increased campaign ROI — 24%
- Increased velocity of sales — 22%
- Improving attribution — 9%
How good are their data? For 31%, the answer is very effective, and for 56% somewhat so. Another 5% answer with a flat no, and 8% are unsure.
But only 26% say yes
when asked if they have enough data to make effective decisions on where to spend marketing dollars. And 58% agree somewhat they have it. Also, 10% say no and 6% are uncertain.
Ascend
surveyed 290 SMB marketers. Of these, 63% were at the owner/partner/C-level, 28% were VPs, directors or managers and 9% were non-management professionals.